Repsol Places New Focus on Libya

Recent Oil Discoveries
Mark Effort to Expand
From Latin America

SAHARA DESERT, Libya -- Repsol YPF SA has struck sweet, high-quality oil here yet again in its efforts to diversify out of its core Latin American assets.

The find is one of two that haven't even been officially announced because the magnitude of the underground petroleum pools hasn't been determined, but the new R-2 well, drilled by a Chinese contractor, has a preliminary yield of about 2,000 barrels a day, Repsol officials said. The...